Sterlite Technologies Q1 Review - Strong Performance On Benign Base: ICICI Direct
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ICICI Direct Report
Sterlite Technologies Ltd. reported a mixed bag quarter.
Revenue came in at Rs 1309 crore, up 49% YoY but down 11% QoQ.
Ebitda came in at Rs 231.9 crore, up 90.6% YoY, down ~10% QoQ with Ebitda margins at 17.7%, up 380 basis points YoY and 30 bps QoQ.
Profit after tax was at Rs 115.8 crore versus Rs 6 crore in the base quarter, down 7% QoQ.
It was also aided by net exceptional gain of Rs 16.2 crore
Stertlie Technologies has indicated that optical fibre cable capacity utilisation is at 70%.
It also said that optical fibre demand has revived by investments in digital infrastructure.
The order book was at ~Rs 11200 crore (versus Rs 10754 crore in Q3), of which operation and maintenance portion was 25%.
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